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Areas of patchy fog early. Rain showers this morning with mostly cloudy conditions during the afternoon hours. High 72F. Winds NE at 10 to 15 mph. Chance of rain 50%..
Cloudy. Slight chance of a rain shower. Low 61F. Winds NE at 10 to 15 mph.
Updated: May 30, 2023 @ 9:16 am
ASHEBORO — A manufacturer of products for temperature management will shift its U.S. headquarters from Asheboro to Greensboro.
Phase Change Solutions will add 51 new jobs and invest $4 million in the move, the company, Greensboro and Gov. Roy Cooper announced last week.
The company’s new site will expand the company’s production capacity and consolidate its research and development, warehouse and headquarters operations, Phase Change Solutions CEO Govi Rao said in a press release.
“The vibrant community and thriving business ecosystem in Greensboro provide the perfect foundation for us to further revolutionize energy efficiency and shape the future of advanced materials for thermal management solution,” Rao said. “Together, we will empower industries, homes, and the planet with our cutting-edge BioPCM technology that will make a lasting impact on both our local community and the world.”
PCS manufactures advanced materials for temperature management for various industries and offers technology to analyze energy necessities and consumption.
Although salaries vary by position, the company’s overall average annual wage of $80,429 will exceed Guilford County’s average annual wage of $57,190. These new jobs could create an annual payroll impact of more than $2.8 million for the community.
A performance-based grant of $75,000 from the One North Carolina Fund will help with PCS’s expansion. The One NC Fund provides financial assistance to local governments to help attract economic investment and create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment.
The Guilford County Board of Commissioners also voted unanimously Thursday night to approve $40,565 worth of incentives, and on Tuesday the Greensboro City Council approved incentives of up to $1,000 per job. PCS also is eligible for an additional $250 city incentive per job for any new employee whose permanent address is in a designated “impact zone” or who is hired through NCWorks Career Centers.
The company’s move into east Greensboro is a milestone for that part of the city, said Marvin J. Price, the executive vice president of economic development at the Greensboro Chamber of Commerce.
“The company’s decision will help to spur revitalization efforts and opportunities in the area, and we’re proud to be a part of the team bringing such influential and cutting-edge companies to our region,” he said.
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